Leung Chun-ying, vice-chairman of the National Committee of the Chinese People's Political Consultative Conference, delivers his speech at the HKAES International Bay Area Summit 2023 at Hong Kong Convention and Exhibition Centre on Feb 20, 2023. (CALVIN NG / CHINA DAILY)
The Hong Kong Special Administrative Region needs to have strategies to prioritize its “finite” resources when integrating with mainland cities in the Guangdong-Hong Kong-Macao Greater Bay Area, Leung Chun-ying said at a conference in Hong Kong on Monday.
The vice-chairman of the National Committee of the Chinese People's Political Consultative Conference made his remarks during the two-day International Bay Area Summit organized by the Hong Kong Academy of Engineering Sciences.
We need to monitor the various impacts on Hong Kong for being part of and for entering and engaging a huge, fast-growing and fast-opening-up neighborhood.
Leung Chun-ying, Vice-chairman, National Committee, CPPCC
Leung, who was also the fourth-term chief executive of Hong Kong, said he believes that the financial hub should leverage its proximity and sectoral development to establish a forward base in a specific city in Guangdong province, rather than distribute resources across all of them.
He emphasized the need for Hong Kong to develop strategies to effectively collaborate with Guangdong.
He said Hong Kong's resources are limited and by concentrating its efforts on one city, the city can “sharpen skills, build networks and create a critical mass for greater engagement with all the Greater Bay Area cities in the future”.
“We need to monitor the various impacts on Hong Kong for being part of and for entering and engaging a huge, fast-growing and fast-opening-up neighborhood,” he said.
Leung acknowledged that competition exists among the Guangdong cities, but said that Hong Kong should welcome that, as it keeps the city on its toes.
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Hong Kong Chief Executive John Lee Ka-chiu addresses via video the HKAES International Bay Area Summit 2023 at Hong Kong Convention and Exhibition Centre on Feb 20, 2023. (CALVIN NG / CHINA DAILY)
Hong Kong Chief Executive John Lee Ka-chiu said, “Under the principle of ‘one country, two systems’, Hong Kong enjoys the unparalleled advantage of having the strong support of the nation while maintaining international connectivity.”
Lee said a steering committee has been established to strengthen the modular integrated construction supply chain and foster collaboration with a manufacturing base in the Greater Bay Area, adding that it will uplift overall construction productivity and sustainability “to meet the strong construction output”.
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The Greater Bay Area, with its nine mainland cities in Guangdong along with Hong Kong and Macao, aims to become a global technology powerhouse to rival Silicon Valley.
According to official data, the Greater Bay Area had a total population of 86 million as of last year, with the GDP of the 11 cities reaching 12.6 trillion yuan ($1.8 trillion), an increase of almost 24 percent compared to 2017. The metropolitan cluster also recorded a per capita GDP of nearly $22,585 in 2021, according to the global statistical database Statista.